This is an interesting hypothesis.
A spending spree by Boomers of the inheritance from the previous generation of savers. Can't see the US continuing as a service society will ever get this US economy really going. Production in the US needs to return. But, 8 trill could get something going. Fifteen years of spending spree might not be taking into account the inflation demon on the horizon. The spending spree might last a few years, maybe five tops.
Baby boomers may not be savers, but they seem to be somewhat generous to their offspring in showing they can have it all. This is seen all of the time by Boomers enabling their "all-about-me" offspring generation by showing them the ropes of how to have it all. Making the "all-about-me" generation want it all now even moreso, and the personal economic mess ensues. I see the Boomers paying off some of the debt of their "all-about-me" offspring, so they can continue to show their kids how it is to not be responsible, along with some wild-n-crazy spending on the finer consumables. Then the Boomers and "all-about-me" generations can start all over in borrowing in an attempt to continue the upscale lifestyle.
Might be something to consider and could be an interesting play. Maybe the higher end restaurant and higher end retail stocks, the travel industry stocks, as well as possibly the sin stocks (booze, smoking, sex, gambling) for a few years.